Headline too big.
Story picture waaaaay too big.
El Reg banner logo looks very 1990's, mostly just blank red space.
Overall look of the site is too bland.
Roll-over menu bar is a real pain in the backside. (I tend to middle click the stories I'm interested in to open a load of new tabs then read - moving up to the tabs "flashes" am irritatingly huge pop-up at me)
Too much "stuff" all the way from the top border down a screen and a half before I get to the article.
Getting back to the banner, why not move the actual logo to the left of the "red top" then put the "Hello user | sign out", the "Cash'n'Carrion Whitepapers The Channel" and maybe even the search box inside the "red top".
Next, make the story image 100% relevant and a suitable size, ie in the story "No more free Windows... and now it’s all about the services", crop out the huge blue area at the bottom of the image and get rid of the image for "FreeBSD developers VANQUISH Demon bug" altogether. It's a tech web site with tech aware readers. We don't need a picture of a fly on a keyboard to let us know what is meant by "bug".
If there's no press release or picture of the person/thing the story is about, then don't bother with an image at all. A huge Goggle logo pasted over a skull doesn't add to the headline. Surely you've sat through depressingly graphic powerpoint presentations and had a moan about over use of graphics, images etc? I know there's regular comments from your readers about that very subject. Please don't do it on the site.
I would suggest scaling the story image to be no more than half the article width and putting it inside the text, top left and flow the text around it if you really must have pictures. Oh, and if you want to get any awards for accessablie content, put something useful in the alt tags.
Someone wise once said a picture is worth a thousand words. A quick review of the latest 10 or stories tells me you've managed to fit a thousand words into one in most cases. And the Word is "meh!"